Europe Smart Lighting Market is anticipated to grow at a strong CAGR by 2024
Category: #reports  By Madhuri Pawar  Date: 2019-03-27
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Europe Smart Lighting Market is anticipated to grow at a strong CAGR by 2024

Graphical Research has announced the release of a new report, titled “Europe Smart Lighting Market“. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024. The report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the market. 

“Europe Smart Lighting Market by Component, Lighting Source, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024”, estimated to exceed USD 9 billion by 2024.

The market growth is primarily attributed to the increasing uptake of smart lighting solutions for facilitating the government initiatives to develop highly connected infrastructure for smart city networks across Europe. The Humble Lamppost project allows Europe to save a total of USD 2.46 billion yearly on electricity as around 60 to 90 million 25-year-old street lights have been replaced with more efficient LED devices. Philips raised its investments in the European LED market from USD 285 million in 2014 to USD 342 million by 2018 with an aim to position itself in the European LED component industry.

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The commercial lighting segment held a majority share of around 40% in the Europe smart lighting market for indoor lighting applications in 2017. The growth of the market is driven by the growing demand for energy-efficient lighting solutions to reduce the energy consumption cost. The governments across European countries are restricting the use of low energy-efficient lighting solutions, such as incandescent and halogen lamps, in the commercial sector. The residential lighting market is projected to exhibit a robust growth at a CAGR of around 20% between 2018 and 2024. The growing awareness regarding the cost-benefits of energy-efficient LED lighting products in the residential sector is expected to fuel the market growth during the forecast period.

Some of the key vendors in the Europe smart lighting market are GE Lighting, Schneider Electric, Hubbell, Silver Spring Networks, Philips Lighting, Cooper Industries (Eaton), Acuity Brands, Bridgelux, Tvilight, Zumtobel, and Cree.

Segments We Cover:

Europe Smart Lighting Market Statistics, By Component
Product
Technology

Make an inquiry for purchasing this report @ https://www.graphicalresearch.com/request/1023/inquiry-before-buying

Europe Smart Lighting Market, By Application
Indoor Lighting
Outdoor Lighting

Europe Smart Lighting Market Trends, By Lighting Source
LED
Fluorescent Lamp
CFL
HIDL

The above information has been provided for the following countries:
France
UK
Germany
Italy
Spain
Netherlands

Browse key industry insights from this report @
https://www.graphicalresearch.com/industry-insights/1023/europe-smart-lighting-market

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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Graphical Research
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About Author

Madhuri Pawar

Email: madhuri.[email protected]   

Madhuri Pawar

A post graduate in Electronics and telecommunication field, Madhuri writes for News.Marketsizeforecasters.com and carries a rich experience in digital marketing, exploring how the online world works from a marketing perspective. her other areas of interest include rea...

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